The exchange of cryptocurrency based in Seychelles, Kucoin, announced its intention to expand its presence in Southeast Asia by entering the Thai cryptography market.
As part of its growth strategy, Kucoin seeks to deploy an crypto exchange platform providing digital assets and related products to Thailand.
According to the official press release, the company facilitated the launch of the local digital token and the Kucoin Thailand cryptocurrency, operated by Erx Company Limited. The platform merges optimal trading experience and safety standards with localized operations, in turn focusing on the supply of reliable digital asset services to users in the region. In addition, Kucoin Thailand is authorized by the Securities and Exchange Commission (SEC) of Thailand, ensuring that the solution meets the regulatory requirements of the country. At the time of writing the editorial time, existing ERX users were migrated to the Kucoin Thailand platform and the application is available on Android and iOS.
The cryptocurrency market in Thailand is on a growth path, the region should reach a turnover of around 488.9 million USD in 2025. In addition, the number of users in the cryptography sector should amount to 7.84 million users. By entering Thailand, Kucoin joins eight other companies authorized by Thai sec to activate as crypto and digital asset exchanges, including Waan Exchange, Gulf Binance, Thai Digital Assets Exchange, Innostx Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub online and Orbix Trade.
Kucoin expansion strategy
In addition to joining the Thai cryptography market, Kucoin also applied in August 2024 for a license in Türkiye. At that time, the board of directors of Turkish capital markets listed 76 companies which requested licenses in new regulatory executives, initiatives highlighting the ascending status of the region as a central center for cryptocurrency activities. However, despite progress, the board of directors said that being included in the “list of operational persons” is now equivalent to official authorization, because each company still needed to obtain formal approval, subject to the promulgation of secondary legislation.
In addition, just a month before that, Kucoin announced that Kucard was ready to support several virtual and physical cards. With this update, users can manage several cards, all eligible for their cashback program. The change has sought to increase financial flexibility and convenience for card holders, budgeting facilitation, expense monitoring and access to funds while offering the capacity for Crypto-à-Fiat conversion of Kucard and cashback awards.
